Aug. 4 (Bloomberg) -- European stocks rose for a ninth week
as U.S. economic data surpassed estimates, outweighing comments
by the Federal Reserve and the European Central Bank that
disappointed investors looking for more definitive steps to
support growth.

The Stoxx 600 rallied 2.2 percent to 265.58 this week, its
longest stretch of gains since January 2006. The benchmark gauge
has climbed 13 percent over the nine-week period as policy
makers eased repayment terms for Spanish banks and optimism grew
that central banks will announce stimulus measures.

“There were some positive elements” from European Central
Bank President Mario Draghi’s statement on Aug. 2, said
Guillaume Duchesne, an equity strategist at BGL BNP Paribas SA
in Luxembourg. “The ECB has a real will to help, but it’s a
long, complex progress. The economic environment remains
complex, but the U.S. payroll data is helping the market in the
short term.”

Draghi stopped short of unveiling specific steps this week,
disappointing investors looking for immediate action. While
signaling that the ECB will join forces with governments to buy
sovereign bonds, Draghi didn’t detail how the plan will work.

American Jobs

A U.S. report showed nonfarm payrolls in the world’s
largest economy climbed more than forecast in July. Employers
added 163,000 workers last month, according to the Labor
Department. That exceeded the 100,000 median estimate of
economists surveyed by Bloomberg News.

Confidence among American consumers unexpectedly rose for
the first time in five months, a report on July 31 showed. The
Confidence Board’s index increased to 65.9 last month from 62.7
in June. Economists in a Bloomberg survey projected a reading of
61.5.

Fed officials led by Chairman Ben S. Bernanke concluded a
two-day meeting on Aug. 1 saying they “will provide additional
accommodation as needed” to bolster the expansion. The Federal
Open Market Committee also said it will “closely monitor”
economic data and financial developments.

Bankia, Vestas

Bankia, which became Spain’s third-largest lender when
seven regional banks were combined, surged 33 percent, leading
gains in shares of European lenders.

Vestas jumped 11 percent. The world’s biggest wind-turbine
maker allayed investor concern that it may breach its loan
covenants, leading to a default scenario. The company said its
banks agreed to let it draw on credit lines and defer a test of
the covenants.

Air France rallied 11 percent. The company’s operating loss
narrowed to 66 million euros ($82 million) from 145 million
euros a year earlier, helped by the introduction of a 2 billion-euro savings plan, Air France said on July 30. That beat the 163
million-euro average estimate of analysts in a Bloomberg poll.

Nokia Surges

Nokia advanced 12 percent. The stock on Aug. 1 completed
its biggest seven-day increase in two decades. Chief Executive
Officer Stephen Elop and several directors bought more than $1
million of the shares the previous week, the company said on
July 31. Nokia’s surge was also helped by increasing sales of
its Lumia smartphone series and speculation of a bid from Lenovo
Group Ltd. Reuters on Aug. 1 reported that Lenovo denied it’s in
talks to acquire the company.

Xstrata Plc, the target of a $27 billion takeover bid by
Glencore International Plc, gained 6.8 percent. The company on
July 31 said first-half production of thermal coal increased 17
percent after restarts and mine expansions.

Teleperformance, the French operator of call centers, rose
8.3 percent after reporting a 36 percent jump in first-half
profit and reiterating its targets for revenue and earnings
growth.

Hugo Boss AG, the German luxury-clothing maker controlled
by Permira Advisers, fell 11 percent after the company reported
profit margins that missed estimates and sales growth that
slowed in Asia.

Ophir, Spirent

Ophir Energy Plc tumbled 13 percent, for the worst
performance in the Stoxx 600. The U.K. explorer in Africa said
on Aug. 2 that a Tanzanian well showed less natural gas than
projected.

Spirent Communications Plc dropped 11 percent. The company
said its growth in the second half may fall to a mid-to-low
single-digit percentage increase due to economic uncertainty.

Veolia Environnement SA, the world’s biggest water company,
lost 6.7 percent. The company’s first-half results were hurt by
writedowns in Italy, the economic slowdown and a “contractual
erosion” at Veolia’s water division in France, the Paris-based
company said. Veolia plans to sell 5 billion euros of assets and
reduce investment by 500 million euros this year and next.